PART A Creating source documents (Receipts, deposit slips, cheques) Scenario You are the agency principal of ATA Real Estate The agency operates a trust account for the sales and property management activities carried out by the agency The trust account is opened with Westpac Bank (Valkyrie branch) Instructions Review the list of transactions below You are required to complete the relevant source documents for these transactions Depending on the nature of the transaction, the source documents you are required to complete will either be a receipt a receipt needs to be completed each time someone pays money into the ATA Real Estate Trust Account deposit slip a deposit slip needs to be completed each time ATA Real Estate makes a deposit into the ATA Real Estate Trust Account and cheque a cheque needs to be prepared each time ATA Real Estate makes a payment out of the ATA Real Estate trust account As you comple exercise, please note the following your cheque numbers will start from 0001, and your receipts will start from 2000 assume all rent is paid in advance To refresh your memory on completing source documents, refer to Part 6 1 in your Cluster 7 Learner Notes List of transactions DATE TRANSACTION 1 September 20XX Mark Gibson pays a deposit of $30,000 on 3 Dairy Rise Court He is buying the property from Dan and Lily Watson The deposit is paid by cheque, drawn on the NAB Bank at Valkyrie The purchase price of the property is $600,000 The ledger reference number is W1 1 September 20XX Jim Dalton pays 2 weeks rent of $800 by EFT Jim is renting Unit 12, 7 Rosepetal Road, Valkyrie The landlord is the Hudson Family Trust, ledger reference number is H1 Jim's rent is due today 2 September 20XX Mary Clarke pays 1 weeks rent, $500 in cash on Unit 14, 7 Rosepetal Road, Valkyrie The landlord is Bronson, and the ledger reference number is B1 Mary's rent was due yesterday 4 September 20XX Mark Gibson terminates the contract on 3 Dairy Rise Court within the 5 business day cooling off period You have received written instructions from the seller to refund the deposit, less the 0 25 termination penalty The termination penalty (payable to the seller) must also be paid to the seller 5 September 20XX Jennifer Mitchell pays a $50,000 deposit on 3 Dairy Rise Court by bank cheque, drawn on the ANZ Valkyrie W1 5 September 20XX Desiree Hill pays two weeks rent in advance on 54 Highview Crest ($1,000) in cash Desiree's rent has already paid up to (and including) 10 September 20XX The landlord is M Saunders, and the ledger reference number is S1 8 September 20XX Your agency has been requested in writing by Jock Hudson, owner of Unit 12, 7 Rosepetal Road to pay Valkyrie Shire Council, $200 for part payment of rates Ledger reference is H1 9 September 20XX Robin Gibson, a salesperson with your office, has secured a new listing The property is 4 Orange Terrace, Valkyrie The sellers James and Libby Russell have paid advertising and marketing expenses of $2,000 by cheque (drawn on First Bank Valkyrie) Ledger reference number is R1 Note There are six (6) receipts, four (4) bank deposit slips and three (3) cheques arising out of the above transactions The first of each document has been created as an example for you So you will need to write up five (5) receipts, three (3) bank deposit slips and two (2) cheques RECEIPTS Example C Lewis Licensee ATA Trust Account Trust Account Receipt No 2000 Date 1 September 20XX Cash Cheque Electronic Transfer Cheque details Drawer M Gibson Bank NAB Valkyrie Received from M Gibson Particulars Deposit on 3 Dairy Rise Court, Valkyrie Sellers D L Watson Amount Thirty thousand dollars $ 3 0,000 00 Account D L Watson Signed Ledger Ref No W1 Complete the following blank receipts C Lewis Licensee ATA Trust Account Trust Account Receipt No 2001 Date Cash Cheque Electronic Transfer Cheque details Received from Particulars Amount $ Account Signed Ledger Ref No C Lewis Licensee ATA Trust Account Trust Account Receipt No 2002 Date Cash Cheque Electronic Transfer Cheque details Received from Particulars Amount $ Account Signed Ledger Ref No C Lewis Licensee ATA Trust Account Trust Account Receipt No 2003 Date Cash Cheque Electronic Transfer Cheque details Received from Particulars Amount $ Account Signed Ledger Ref No DEPOSIT SLIPS (FOR CASH AND CHEQUE DEPOSITS) Example Westpac (Valkyrie) DEPOSIT SLIP Date 1 9 XX Drawer Bank Branch Amount ($) Mark Gibson NAB Valkyrie $30,000 Total cheques Cash Total Paid in by $ 30,000 $ 0 $ 30,000 Complete the following Deposit Slips Westpac (Valkyrie) DEPOSIT SLIP Date Drawer Bank Branch Amount ($) Total cheques Cash Total Paid in by $ $ $ Westpac (Valkyrie) DEPOSIT SLIP Date Drawer Bank Branch Amount ($) Total cheques Cash Total Paid in by $ $ $ Westpac (Valkyrie) DEPOSIT SLIP Date Drawer Bank Branch Amount ($) Total cheques Cash Total Paid in by $ $ $ CHEQUES Example Date 4 September 20XX Payee M Gibson Deposit refund 3 Dairy Rise Court $30,000 less termination penalty ($1,500) $28,500 00 Ledger ref W1 0001 Westpac (Valkyrie) Date 04 09 XX Payee Mark Gibson Amount Twenty eight thousand, five hundred dollars only $28,500 00 C Lewis Licensee ATA Trust Account 0001 Write up the following cheques Date Payee $ Ledger ref 0002 Westpac (Valkyrie) Date Payee Amount $ C Lewis Licensee ATA Trust Account 0002 NOTE Amount of cheque 002 to Watson (Vendor) is calculated as 0 25 $600,000 $1,500 Date Payee $ Ledger ref 0003 Westpac (Valkyrie) Date Payee Amount $ C Lewis Licensee ATA Trust Account 0003 PART B Entering cash receipts and cash payments into trust account journals Instructions Review the list of transactions below (this is the same list of transactions from Part A) You are required to record each transaction into either the Trust Cash Receipts Journal or the Trust Cash Payments Journal (The first entry for each journal has been created as an example for you) PLEASE NOTE Payments into the ATA Real Estate Trust Account need to be recorded in the Trust Cash Receipts Journal Payments out of the ATA Real Estate Trust Account need to be recorded in the Trust Cash Payments Journal The following are the Ledger Folio numbers for the various clients Trust Bank TB1 D L Watson W1 Hudson Family Trust H1 Bronson B1 M Saunders S1 J and L Russell R1 To refresh your memory on trust account journals, refer to Part 6 2 in your Cluster 7 Learner Notes List of transactions DATE TRANSACTION 1 September 20XX Mark Gibson pays a deposit of $30,000 on 3 Dairy Rise Court He is buying the property from Dan and Lily Watson The deposit is paid by cheque, drawn on the NAB Bank at Valkyrie The purchase price of the property is $600,000 The ledger reference number is W1 1 September 20XX Jim Dalton pays 2 weeks rent of $800 by EFT Jim is renting Unit 12, 7 Rosepetal Road, Valkyrie The landlord is the Hudson Family Trust, ledger reference number is H1 Jim's rent is due today 2 September 20XX Mary Clarke pays 1 weeks rent, $500 in cash on Unit 14, 7 Rosepetal Road, Valkyrie The landlord is Bronson, and the ledger reference number is B1 Mary's rent was due yesterday 4 September 20XX Mark Gibson terminates the contract on 3 Dairy Rise Court within the 5 business day cooling off period You have received written instructions from the seller to refund the deposit, less the 0 25 termination penalty The termination penalty (payable to the seller) must also be paid to the seller 5 September 20XX Jennifer Mitchell pays a $50,000 deposit on 3 Dairy Rise Court by bank cheque, drawn on the ANZ Valkyrie Sellers are Dan and Lily Watson 5 September 20XX Desiree Hill pays two weeks rent in advance on 54 Highview Crest ($1,000) in cash Desiree's rent has already paid up to (and including) 10 September 20XX The landlord is M Saunders, and the ledger reference number is S1 8 September 20XX Your agency has been requested in writing by Jock Hudson, owner of Unit 12, 7 Rosepetal Road to pay Valkyrie Shire Council, $200 for part payment of rates Ledger reference is H1 9 September 20XX Robin Gibson, a salesperson with your office, has secured a new listing The property is 4 Orange Terrace, Valkyrie The sellers James and Libby Russell have paid advertising and marketing expenses of $2,000 by cheque (drawn on First Bank Valkyrie) Ledger reference number is R1 TRUST CASH RECEIPTS JOURNAL Trust Cash Receipts Journal September TCR 1 Date Rec No Received from Account Particulars Ledger Folio Amount Deposit in Bank 1 9 XX 2000 M Gibson D L Watson Deposit on 3 Dairy Rise Court W1 $30,000 TRUST CASH PAYMENTS JOURNAL Trust Cash Payments Journal September TCP 1 Date Chq No Paid to Account Particulars Ledger Folio Amount 4 9 XX 0001 Gibson Watson Refund deposit 3 Dairy Rise Ct LessTermination penalty W1 $28,500 PART C Recording transactions in ledgers Instructions Review the Trust Cash Receipts Journal and the Trust Cash Payments Journal below For each entry you see in the Trust Cash Receipts Journal and the Trust Cash Payments Journal, create entry in the Trust Bank Ledger (TB1) and one of the following Client Ledgers (as applicable to the transaction) D L Watson (W1) Hudson Family Trust (H1) Bronson (B1) M Saunders (S1) J and L Russell (R1) IMPORTANT PLEASE NOTE For entries into the Trust Bank Ledger Money coming in needs to be recorded in the Debit column Money going out needs to be recorded in the Credit column For entries into a Client Ledger Money coming in needs to be recorded in the Credit column Money going out needs to be recorded in the Debit column You must record the following details in the relevant Client Ledger date of the transaction particulars of the transaction the relevant transaction amount To refresh your memory on trust account ledgers, refer to Part 6 3 in your Cluster 7 Learner Notes Trust Cash Receipts Journal Trust Cash Receipts Journal September TCR 1 Date Rec No Received from Account Particulars Ledger Folio Amount Deposit in Bank 1 9 XX 2000 M Gibson D L Watson Deposit on 3 Dairy Rise Court W1 $30,000 1 9 XX 2001 J Dalton Hudson F Trust 2 weeks rent, unit 12 7 Rosepetal Rd H1 $800 $30,800 2 9 XX 2002 M Clarke Bronson 1 wks rent, 14 7Rosepetal Rd B1 $500 $500 5 9 XX 2003 Mitchell D L Watson Deposit on 3 Dairy Rise Court W1 $50,000 5 9 XX 2004 D Hill Saunders 2 wks rent 54 Highview Crest S1 $1,000 $51,000 9 9 XX 2005 J L Russell Russell Advertising for 4 Orange Tce R1 $2,000 $2,000 Trust Cash Payments Journal Trust Cash Payments Journal September TCP 1 Date Chq No Paid to Account Particulars L Folio Amount 4 9 XX 0001 Gibson Watson Refund deposit 3 Dairy Rise Ct LessTermination penalty W1 $28,500 4 9 XX 0002 Watson Watson Termination penalty 3 Dairy Rise Ct W1 $1,500 8 9 XX 0003 Valkyrie Shire Council Hudson Family Trust Part Payment of rates Unit 12, 7Rosepetal Road H1 $200 The first entry in the Trust Bank ledger and the first individual ledger has been created as an example for you TRUST BANK LEDGER (TB1) Please complete Trust Bank (TB1) Date From To Particulars Folio Debit Credit Balance 01 09 XX Gibson D L Watson TCR1 $30,000 00 $30,000 00DR 01 09 XX Dalton Hudson Family Trust TCR1 $800 00 $30,800 00DR INDIVIDUAL CLIENT LEDGERS Please complete D L Watson (W1) Date From To Particulars Folio Debit Credit Balance 01 09 XX Gibson Deposit on 3 Dairy Rise Court TCR 1 $30,000 $30,000 04 09 XX Gibson Refund deposit less termination penalty TCP 1 $28,500 $1, 500 Hudson Family Trust (H1) Date From To Particulars Folio Debit Credit Balance Bronson (B1) Date From To Particulars Folio Debit Credit Balance M Saunders (S1) Date From To Particulars Folio Debit Credit Balance J L Russell (R1) Date From To Particulars Folio Debit Credit Balance PART D Completing a bank reconciliation (1) Instructions You are required to prepare Bank Reconciliation Statement for the ATA Real Estate Trust Account as at 15 September 20XX As you may recall, the bank reconciliation process involves checking the agency's internal trust accounting records against the bank's records for the agency's trust account at a specific point in time This is done by comparing the agency's internal trust account balance against the balance in the bank statement for the trust account on a given date To refresh your memory on bank reconciliations, refer to Part 6 6 in your Cluster 7 Learner Notes Review the following records below Trust Cash Receipts Journal Trust Cash Payments Journal Trust Bank Ledger The above records contain information about all the money going into and out of the ATA Real Estate Trust Account for the month of September 20XX (and how much money should be in the trust bank account) Also, review the Bank Statement for the ATA Real Estate Trust Account provided below (this shows how much money is actually in the trust bank account) Complete the missing gaps in the Bank Reconciliation Statement PLEASE NOTE The first deposit is for M Gibson deposit on sale of 3 Dairy Rise Court Bank statements do not contain names, only deposit or payment amounts Trust Cash Receipts Journal Trust Cash Receipts Journal September TCR 1 Date Rec No Received from Account Particulars Ledger Folio Amount Deposit in Bank 1 9 XX 2000 M Gibson D L Watson Deposit on 3 Dairy Rise Court W1 $30,000 1 9 XX 2001 J Dalton Hudson F Trust 2 weeks rent, unit 12 7 Rosepetal Rd H1 $800 $30,800 2 9 XX 2002 M Clarke Bronson 1 wks rent, 14 7Rosepetal Rd B1 $500 $500 5 9 XX 2003 Mitchell D L Watson Deposit on 3 Dairy Rise Court W1 $50,000 5 9 XX 2004 D Hill Saunders 2 wks rent 54 Highview Crest S1 $1,000 $51,000 9 9 XX 2005 J L Russell Russell Advertising for 4 Orange Tce R1 $2,000 $2,000 Trust Cash Payments Journal Trust Cash Payments Journal September TCP 1 Date Chq No Paid to Account Particulars L Folio Amount 4 9 XX 0001 Gibson Watson Refund deposit 3 Dairy Rise Ct LessTermination penalty W1 $28,500 4 9 XX 0002 Watson Watson Termination penalty 3 Dairy Rise Ct W1 $1,500 8 9 XX 0003 Valkyrie Shire Council Hudson Family Trust Part Payment of rates Unit 12, 7Rosepetal Road H1 $200 Trust Bank Ledger (TB1) Trust Bank (TB1) Date From To Particulars Folio Debit Credit Balance 01 09 XX 01 09 XX 02 09 XX 04 09 XX 04 09 XX 05 09 XX 05 09 XX 08 09 XX 09 09 XX Gibson Dalton Clarke Gibson Watson Mitchell Hill V S C Russell D L Watson Hudson Family Trust Bronson D L Watson D L Watson D L Watson M Saunders Hudson Family Trust J L Russell TCR1 TCR1 TCR1 TCP1 TCP1 TCR1 TCR1 TCP1 TCR1 $30,000 00 $800 00 $500 00 $50,000 00 $1,000 00 $2,000 00 $28,500 00 $1,500 00 $200 00 $30,000 00DR $30,800 00DR $31,300 00DR $2,800 00DR $1,300 00DR $51,300 00DR $52,300 00DR $52,100 00DR $54,100 00DR Bank statement Westpac Valkyerie ATA Real Estate Bank statement as at 15 September 20XX Account no Date Particulars Debit Credit Balance 01 09 XX Deposit (Gibson) $30,000 00 $30,000 00 CR 01 09 XX Deposit $800 00 $30,800 00 CR 02 09 XX Deposit $500 00 $31,300 00 CR 05 08 XX Deposit $51,000 00 $82,300 00 CR 09 09 XX Deposit $2,000 000 $84,300 00 CR 09 09 XX Chq No 0001 $28,500 00 $55,800 00 CR 09 09 XX Chq No 0002 $1,500 00 $54,300 00 CR Hint in the Bank reconciliation the balance of the bank statement must be the same as the balance of the trust account ledger All outstanding payments and or deposits are recorded in the reconciliation so that the balances match BANK RECONCILIATION STATEMENT Please complete ATA Real Estate Trust Account Bank reconciliation statement as at 15 September 20XX Balance as per bank statement $54,300 Add outstanding deposits $ Subtotal $ Less unpresented cheques Date Cheque no Amount $ $ Adjusted bank balance $ Balance as per Trust Bank Ledger $54,100 PART E Completing a bank reconciliation (2) Instructions You are required to prepare Bank Reconciliation Statement for Best Realty as at the end of the month To refresh your memory on bank reconciliations, refer to Part 6 6 in your Cluster 7 Learner Notes Review the following records below Trust Bank Ledger Bank Statement The Trust Bank Ledger contains information about all the money going into and out of the Best Realty Trust Account for the month of September 20XX (and how much money should be in the trust bank account) The Bank Statement for the Best Realty Trust Account shows how much money is actually in the trust bank account Complete the Bank Reconciliation Statement Trust Bank Ledger (TB1) Trust Bank (TB1) Date From To Particulars Folio Debit Credit Balance 01 09 XX 01 09 XX 02 09 XX 04 09 XX 04 09 XX 05 09 XX 05 09 XX 08 09 XX 09 09 XX 11 09 XX 11 09 XX 12 09 XX 15 09 XX 18 09 XX 23 09 XX 23 09 XX 23 09 XX 25 09 XX 30 09 XX 30 09 XX 30 09 XX 30 09 XX Dalton Gibson Clarke Gibson Watson Mitchell Hill V S C Russell Clarke Burdis Burdis J B Guici Bond Watson ATA R Estate Trees R Us Hudson Bronson Saunders Guici Best R E Hudson Family Trust D L Watson Bronson D L Watson (Chq 0001) D L Watson (Chq 0002) D L Watson M Saunders Hudson Family Trust (Chq 0003) J L Russell Bronson Bond Ledger J B Guici J B Guici Rental Bond Payment (Chq 0004) Watson (Chq 0005) Watson (Chq 0006) J B Guici (Chq 0007) Hudson (Chq 0008) Bronson (Chq 0009) Saunders (Chq 0010) Guici (Chq 011) Commission Clearing Account (Chq 0012) TCR1 TCR1 TCR1 TCP1 TCP1 TCR1 TCR1 TCP1 TCR1 TCR1 TCR1 TCR1 TCR1 TCP1 TCP1 TCP1 TCP1 TCP1 TCP1 TCP1 TCP1 TCP1 $800 00 $30,000 00 $500 00 $50,000 00 $1,000 00 $2,000 00 $1,400 00 $2,400 00 $1,200 00 $1,200 00 $28,500 00 $1,500 00 $200 00 $2,400 00 $37,040 00 $12,960 00 $1,200 00 $532 00 $1,738 50 $915 00 $1,098 00 $416 50 $800 00 DR $30,800 00 DR $31,300 00 DR $2,800 00 DR $1,300 00 DR $51,300 00 DR $52,300 00 DR $52,100 00 DR $54,100 00 DR $55,500 00 DR $57,900 00 DR $59,100 00 DR $60,300 00 DR $57,900 00 DR $20,860 00 DR $7,900 00 DR $6,700 00 DR $6,168 00 DR $4,429 50 DR $3,514 50 DR $2416 50 DR $2,000 00 DR Bank statement Westpac Valkerie BEST Real Estate Bank statement as at 30 September 20XX Account no Date Particulars Debit Credit Balance 01 09 XX Deposit (Dalton) $800 00 $800 00 CR 01 09 XX Deposit $30,000 00 $30,800 00 CR 02 09 XX Deposit $500 00 $31,300 00 CR 05 08 XX Deposit $51,000 00 $82,300 00 CR 09 09 XX Deposit $2,000 000 $84,300 00 CR 09 09 XX Chq No 0001 $28,500 00 $55,800 00 CR 09 09 XX Chq No 0002 $1,500 00 $54,300 00 CR 10 09 XX Chq No 0003 $200 00 $54,100 00 CR 11 09 XX Deposit $1,400 00 $55,500 00 CR 11 09 XX Deposit (Burdis) $2,400 00 $57,900 00 CR 12 09 XX Deposit (Burdis) $1,200 00 $59,100 00 CR 17 09 XX Deposit (Guici) $1,200 00 19 09 XX Chq No 0004 $2,400 00 24 09 XX Chq No 0005 $37,040 00 25 09 XX Chq No 0006 $12,960 00 28 09 XX Chq No 0007 $1,200 00 $6,700 00 CR BANK RECONCILIATION STATEMENT Please complete Best Realty Trust Account Bank reconciliation statement as at 30 September 20XX Balance as per bank statement $6,700 Add outstanding deposits $ Subtotal $ Less unpresented cheques Date Cheque no Amount 30 9 XX $ 30 9 XX $ 30 9 XX $ 30 9 XX $ 30 9 XX $ $ Adjusted bank balance $ Balance as per Trust Bank Ledger $2,000 PART F Completing a bank reconciliation (3) Instructions You are required to prepare Bank Reconciliation Statement for Smart Realty as at the end of the month To refresh your memory on bank reconciliations, refer to Part 6 6 in your Cluster 7 Learner Notes Review the following records below Trust Bank Ledger Bank Statement The Trust Bank Ledger contains information about all the money going into and out of the Smart Realty Trust Account for the month of January 20XX (and how much money should be in the trust bank account) The Bank Statement for the Smart Realty Trust Account shows how much money is actually in the trust bank account Complete the Bank Reconciliation Statement Bank statement NAB Rockdale Smart Realty Bank statement as at 31 January 20XX Account no Date Particulars Debit Credit Balance 02 01 XX Deposit $800 00 $800 00 CR 02 01 XX Deposit $60,000 00 $60,800 00 CR 05 01 XX Deposit $700 00 $61,500 00 CR 08 01 XX Chq No 0005 $350 00 $61,150 00 CR 14 01 XX Deposit $1,400 00 $62,550 00 CR 21 01 XX Deposit $2,400 00 $64,950 00 CR 22 01 XX Deposit $72,000 00 $136,950 00 CR 24 01 XX Chq No 0006 $42,000 00 $94,950 00 CR 25 01 XX Chq No 0007 $18,000 00 $76,950 00 CR 28 01 XX Chq No 0008 $2,400 00 $74,550 00 CR 31 01 XX Deposit $2,750 00 $77,300 00 CR Trust Bank Ledger (TB1) Trust Bank (TB1) Date From To Particulars Folio Debit Credit Balance 02 01 XX 02 01 XX 05 01 XX 08 01 XX 14 01 XX 21 01 XX 22 01 XX 24 01 XX 25 01 XX 28 01 XX 30 01 XX 30 01 XX 31 01 XX Jones Mitchell Brown RCC Brown Taylor Lee Wills Smart Realty RTA J J Hill Yen Hinze J J Hill D P Wills Z C Yen Part payment of rates Hill (0005) Z C Yen Taylor Bond 23 Low St N J Shaw Balance of deposit (0006) Commission Sale Wills (0007) Bond Taylor (0008) Landlord payment (0009) Landlord payment (0010) Advertising TCR1 TCR1 TCR1 TCP1 TCR1 TCR1 TCR1 TCP1 TCP1 TCP1 TCP1 TCP1 TCR1 $800 00 $60,000 00 $700 00 $1,400 00 $2,400 00 $72,000 00 $2,750 00 $350 00 $42,000 $18,000 $2,400 $450 00 $2,100 00 $800 00 DR $60,800 00 DR $61,500 00 DR $61,150 00 DR $62,550 00 DR $64,950 00 DR $136,950 00 DR $94,950 00 DR $76,950 00 DR $74,550 00 DR $74,100 00 DR $72,000 00 DR $74,750 00 DR BANK RECONCILIATION STATEMENT Please complete Smart Realty Trust Account Bank reconciliation statement as at 31 January 20XX Balance as per bank statement $77,300 Add outstanding deposits $ Subtotal $ Less unpresented cheques Date Cheque no Amount $ $ $ Adjusted bank balance $ Balance as per Trust Bank Ledger $74,750

Question: PART A - Creating source documents (Receipts, deposit slips, cheques) Scenario You are the agency principal of ATA Real Estate. The agency operates a trust

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PART A - Creating source documents

(Receipts, deposit slips, cheques)

Scenario

You are the agency principal of ATA Real Estate. The agency operates a trust account for the sales and property management activities carried out by the agency. The trust account is opened with Westpac Bank (Valkyrie branch).

Instructions

Review the list of transactions below. You are required to complete the relevant source documents for these transactions.

Depending on the nature of the transaction, the source documents you are required to complete will either be a:

receipt - a receipt needs to be completed each time someone pays money into the ATA Real Estate Trust Account;
deposit slip - a deposit slip needs to be completed each time ATA Real Estate makes a deposit into the ATA Real Estate Trust Account; and
cheque - a cheque needs to be prepared each time ATA Real Estate makes a payment out of the ATA Real Estate trust account.

As you comple exercise, please note the following:

your cheque numbers will start from 0001, and your receipts will start from 2000.
assume all rent is paid in advance.

To refresh your memory on completing source documents, refer to Part [6.1] in your Cluster 7 Learner Notes.

List of transactions

DATE	TRANSACTION
1 September 20XX	Mark Gibson pays a deposit of $30,000 on 3 Dairy Rise Court. He is buying the property from Dan and Lily Watson. The deposit is paid by cheque, drawn on the NAB Bank at Valkyrie. The purchase price of the property is $600,000. The ledger reference number is W1.
1 September 20XX	Jim Dalton pays 2 weeks rent of $800 by EFT. Jim is renting Unit 12, 7 Rosepetal Road, Valkyrie. The landlord is the Hudson Family Trust, ledger reference number is H1. Jim's rent is due today.
2 September 20XX	Mary Clarke pays 1 weeks rent, $500 in cash on Unit 14, 7 Rosepetal Road, Valkyrie. The landlord is Bronson, and the ledger reference number is B1. Mary's rent was due yesterday.
4 September 20XX	Mark Gibson terminates the contract on 3 Dairy Rise Court within the 5 business day cooling off period. You have received written instructions from the seller to refund the deposit, less the 0.25% termination penalty. The termination penalty (payable to the seller) must also be paid to the seller.
5 September 20XX	Jennifer Mitchell pays a $50,000 deposit on 3 Dairy Rise Court by bank cheque, drawn on the ANZ Valkyrie. W1.
5 September 20XX	Desiree Hill pays two weeks rent in advance on 54 Highview Crest ($1,000) in cash. Desiree's rent has already paid up to (and including) 10 September 20XX. The landlord is M Saunders, and the ledger reference number is S1.
8 September 20XX	Your agency has been requested in writing by Jock Hudson, owner of Unit 12, 7 Rosepetal Road to pay Valkyrie Shire Council, $200 for part payment of rates. Ledger reference is H1
9 September 20XX	Robin Gibson, a salesperson with your office, has secured a new listing. The property is 4 Orange Terrace, Valkyrie. The sellers James and Libby Russell have paid advertising and marketing expenses of $2,000 by cheque (drawn on First Bank Valkyrie). Ledger reference number is R1.

Note: There are six (6) receipts, four (4) bank deposit slips and three (3) cheques arising out of the above transactions.

The first of each document has been created as an example for you. So you will need to write up five (5) receipts, three (3) bank deposit slips and two (2) cheques.

RECEIPTS Example

C Lewis Licensee

ATA Trust Account

Trust Account Receipt No: 2000

Date: 1 September 20XX

Cash / Cheque / Electronic Transfer

Cheque details: Drawer: M Gibson; Bank: NAB Valkyrie

Received from: M Gibson

Particulars: Deposit on 3 Dairy Rise Court, Valkyrie. Sellers D & L Watson

Amount: Thirty thousand dollars $ 30,000.00

Account: D & L Watson Signed: __________________________________

Ledger Ref. No: W1

Complete the following blank receipts

C Lewis Licensee

ATA Trust Account

Trust Account Receipt No: 2001

Date:

Cash / Cheque / Electronic Transfer

Cheque details:

Received from:

Particulars:

Amount: $

Account: Signed: __________________________________

Ledger Ref. No:

C Lewis Licensee

ATA Trust Account

Trust Account Receipt No: 2002

Date:

Cash / Cheque / Electronic Transfer

Cheque details:

Received from:

Particulars:

Amount: $

Account: Signed: __________________________________

Ledger Ref. No:

C Lewis Licensee

ATA Trust Account

Trust Account Receipt No: 2003

Date:

Cash / Cheque / Electronic Transfer

Cheque details:

Received from:

Particulars:

Amount: $

Account: Signed: __________________________________

Ledger Ref. No:

DEPOSIT SLIPS (FOR CASH AND CHEQUE DEPOSITS)

Example

Westpac (Valkyrie) DEPOSIT SLIP Date: 1/9/XX
Drawer	Bank	Branch	Amount ($)
Mark Gibson	NAB	Valkyrie	$30,000


Total cheques Cash Total Paid in by: _______________________________________	$ 30,000 $ 0 $ 30,000

Complete the following Deposit Slips

Westpac (Valkyrie) DEPOSIT SLIP Date:
Drawer	Bank	Branch	Amount ($)



Total cheques Cash Total Paid in by: _______________________________________	$ $ $

Westpac (Valkyrie) DEPOSIT SLIP Date:
Drawer	Bank	Branch	Amount ($)



Total cheques Cash Total Paid in by: _______________________________________	$ $ $

Westpac (Valkyrie) DEPOSIT SLIP Date:
Drawer	Bank	Branch	Amount ($)



Total cheques Cash Total Paid in by: _______________________________________	$ $ $

CHEQUES

Example

Date: 4 September 20XX

Payee: M Gibson

Deposit refund 3 Dairy Rise Court. $30,000 less termination penalty ($1,500)

$28,500.00

Ledger ref: W1

#0001

Westpac (Valkyrie) Date: 04.09.XX

Payee: Mark Gibson

Amount: Twenty eight thousand, five hundred dollars only

$28,500.00

C Lewis Licensee

ATA Trust Account

_________________________________________

#0001

Write up the following cheques

Date:

Payee:

Ledger ref:

#0002

Westpac (Valkyrie) Date:

Payee:

Amount:

C Lewis Licensee

ATA Trust Account

_________________________________________

#0002

* NOTE- Amount of cheque #002 to Watson (Vendor) is calculated as 0.25% ?? $600,000 = $1,500.

Date:

Payee:

Ledger ref:

#0003

Westpac (Valkyrie) Date:

Payee:

Amount:

C Lewis Licensee

ATA Trust Account

_________________________________________

#0003

PART B - Entering cash receipts and cash payments into trust account journals

Instructions

Review the list of transactions below (this is the same list of transactions from Part A)

You are required to record each transaction into either the Trust Cash Receipts Journal or the Trust Cash Payments Journal. (The first entry for each journal has been created as an example for you)

PLEASE NOTE:

Payments into the ATA Real Estate Trust Account need to be recorded in the Trust Cash Receipts Journal
Payments out of the ATA Real Estate Trust Account need to be recorded in the Trust Cash Payments Journal
The following are the Ledger Folio numbers for the various clients:
- Trust Bank - TB1
D & L Watson - W1
Hudson Family Trust - H1
Bronson - B1
M Saunders - S1
J and L Russell - R1

To refresh your memory on trust account journals, refer to Part [6.2] in your Cluster 7 Learner Notes.

List of transactions

DATE	TRANSACTION
1 September 20XX	Mark Gibson pays a deposit of $30,000 on 3 Dairy Rise Court. He is buying the property from Dan and Lily Watson. The deposit is paid by cheque, drawn on the NAB Bank at Valkyrie. The purchase price of the property is $600,000. The ledger reference number is W1.
1 September 20XX	Jim Dalton pays 2 weeks rent of $800 by EFT. Jim is renting Unit 12, 7 Rosepetal Road, Valkyrie. The landlord is the Hudson Family Trust, ledger reference number is H1. Jim's rent is due today.
2 September 20XX	Mary Clarke pays 1 weeks rent, $500 in cash on Unit 14, 7 Rosepetal Road, Valkyrie. The landlord is Bronson, and the ledger reference number is B1. Mary's rent was due yesterday.
4 September 20XX	Mark Gibson terminates the contract on 3 Dairy Rise Court within the 5 business day cooling off period. You have received written instructions from the seller to refund the deposit, less the 0.25% termination penalty. The termination penalty (payable to the seller) must also be paid to the seller.
5 September 20XX	Jennifer Mitchell pays a $50,000 deposit on 3 Dairy Rise Court by bank cheque, drawn on the ANZ Valkyrie. Sellers are Dan and Lily Watson
5 September 20XX	Desiree Hill pays two weeks rent in advance on 54 Highview Crest ($1,000) in cash. Desiree's rent has already paid up to (and including) 10 September 20XX. The landlord is M Saunders, and the ledger reference number is S1.
8 September 20XX	Your agency has been requested in writing by Jock Hudson, owner of Unit 12, 7 Rosepetal Road to pay Valkyrie Shire Council, $200 for part payment of rates. Ledger reference is H1
9 September 20XX	Robin Gibson, a salesperson with your office, has secured a new listing. The property is 4 Orange Terrace, Valkyrie. The sellers James and Libby Russell have paid advertising and marketing expenses of $2,000 by cheque (drawn on First Bank Valkyrie). Ledger reference number is R1.

TRUST CASH RECEIPTS JOURNAL

Trust Cash Receipts Journal September TCR 1
Date	Rec. No.	Received from	Account	Particulars	Ledger Folio	Amount	Deposit in Bank
1/9/ XX	2000	M Gibson	D & L Watson	Deposit on 3 Dairy Rise Court	W1	$30,000

TRUST CASH PAYMENTS JOURNAL

Trust Cash Payments Journal September TCP 1
Date	Chq No.	Paid to	Account	Particulars	Ledger Folio	Amount
4/9/ XX	0001	Gibson	Watson	Refund deposit 3 Dairy Rise Ct. LessTermination penalty	W1	$28,500

PART C - Recording transactions in ledgers

Instructions

Review the Trust Cash Receipts Journal and the Trust Cash Payments Journal below.

For each entry you see in the Trust Cash Receipts Journal and the Trust Cash Payments Journal, create entry in the Trust Bank Ledger (TB1) and one of the following Client Ledgers (as applicable to the transaction):

D & L Watson (W1)
Hudson Family Trust (H1)
Bronson (B1)
M Saunders (S1)
J and L Russell (R1)

IMPORTANT - PLEASE NOTE!

For entries into the Trust Bank Ledger:

Money coming in needs to be recorded in the Debit column
Money going out needs to be recorded in the Credit column

For entries into a Client Ledger:

Money coming in needs to be recorded in the Credit column
Money going out needs to be recorded in the Debitcolumn

You must record the following details in the relevant Client Ledger:

date of the transaction
particulars of the transaction
the relevant transaction amount

To refresh your memory on trust account ledgers, refer to Part [6.3] in your Cluster 7 Learner Notes.

Trust Cash Receipts Journal

Trust Cash Receipts Journal September TCR 1
Date	Rec. No.	Received from	Account	Particulars	Ledger Folio	Amount	Deposit in Bank
1/9/ XX	2000	M Gibson	D & L Watson	Deposit on 3 Dairy Rise Court	W1	$30,000
1/9/XX	2001	J Dalton	Hudson F Trust	2 weeks rent, unit 12/7 Rosepetal Rd	H1	$800	$30,800
2/9/ XX	2002	M Clarke	Bronson	1 wks rent, 14/7Rosepetal Rd	B1	$500	$500
5/9/ XX	2003	Mitchell	D & L Watson	Deposit on 3 Dairy Rise Court	W1	$50,000
5/9/ XX	2004	D Hill	Saunders	2 wks rent. 54 Highview Crest	S1	$1,000	$51,000
9/9/ XX	2005	J & L Russell	Russell	Advertising for 4 Orange Tce	R1	$2,000	$2,000

Trust Cash Payments Journal

Trust Cash Payments Journal September TCP 1
Date	Chq No.	Paid to	Account	Particulars	L Folio	Amount
4/9/ XX	0001	Gibson	Watson	Refund deposit 3 Dairy Rise Ct. LessTermination penalty	W1	$28,500
4/9/ XX	0002	Watson	Watson	Termination penalty 3 Dairy Rise Ct	W1	$1,500
8/9/ XX	0003	Valkyrie Shire Council	Hudson Family Trust	Part Payment of rates Unit 12, 7Rosepetal Road	H1	$200

The first entry in the Trust Bank ledger and the first individual ledger has been created as an example for you.

TRUST BANK LEDGER (TB1) -Please complete

Trust Bank (TB1)
Date	From/To	Particulars	Folio	Debit	Credit	Balance
01.09.XX	Gibson	D & L Watson	TCR1	$30,000.00		$30,000.00DR
01.09.XX	Dalton	Hudson Family Trust	TCR1	$800.00		$30,800.00DR

INDIVIDUAL CLIENT LEDGERS -Please complete

D & L Watson (W1)
Date	From/To	Particulars	Folio	Debit	Credit	Balance
01.09.XX	Gibson	Deposit on 3 Dairy Rise Court	TCR 1		$30,000	$30,000
04.09.XX	Gibson	Refund deposit less termination penalty	TCP 1	$28,500		$1, 500

Bronson (B1)
Date	From/To	Particulars	Folio	Debit	Credit	Balance

M Saunders (S1)
Date	From/To	Particulars	Folio	Debit	Credit	Balance

J &L Russell (R1)
Date	From/To	Particulars	Folio	Debit	Credit	Balance

PART D - Completing a bank reconciliation (1)

Instructions

You are required to prepare Bank Reconciliation Statement for the ATA Real Estate Trust Account as at 15 September 20XX.

As you may recall, the bank reconciliation process involves checking the agency's internal trust accounting records against the bank's records for the agency's trust accountat a specific point in time. This is done by comparing the agency's internal trust account balance against the balance in the bank statement for the trust account on a given date.

To refresh your memory on bank reconciliations, refer to Part [6.6] in your Cluster 7 Learner Notes.

Review the following records below:

Trust Cash Receipts Journal
Trust Cash Payments Journal
Trust Bank Ledger.

The above records contain information about all the money going into and out of the ATA Real Estate Trust Account for the month of September 20XX (and how much money should be in the trust bank account).

Also, review the Bank Statement for the ATA Real Estate Trust Account provided below (this shows how much money is actuallyin the trust bank account).

Complete the missing gaps in the Bank Reconciliation Statement.

PLEASE NOTE:

The first deposit is for M Gibson deposit on sale of 3 Dairy Rise Court.
Bank statements do not contain names, only deposit or payment amounts.

Trust Cash Receipts Journal

Trust Cash Receipts Journal September TCR 1
Date	Rec. No.	Received from	Account	Particulars	Ledger Folio	Amount	Deposit in Bank
1/9/ XX	2000	M Gibson	D & L Watson	Deposit on 3 Dairy Rise Court	W1	$30,000
1/9/XX	2001	J Dalton	Hudson F Trust	2 weeks rent, unit 12/7 Rosepetal Rd	H1	$800	$30,800
2/9/ XX	2002	M Clarke	Bronson	1 wks rent, 14/7Rosepetal Rd	B1	$500	$500
5/9/ XX	2003	Mitchell	D & L Watson	Deposit on 3 Dairy Rise Court	W1	$50,000
5/9/ XX	2004	D Hill	Saunders	2 wks rent. 54 Highview Crest	S1	$1,000	$51,000
9/9/ XX	2005	J & L Russell	Russell	Advertising for 4 Orange Tce	R1	$2,000	$2,000

Trust Cash Payments Journal

Trust Cash Payments Journal September TCP 1
Date	Chq No.	Paid to	Account	Particulars	L Folio	Amount
4/9/ XX	0001	Gibson	Watson	Refund deposit 3 Dairy Rise Ct. LessTermination penalty	W1	$28,500
4/9/ XX	0002	Watson	Watson	Termination penalty 3 Dairy Rise Ct	W1	$1,500
8/9/ XX	0003	Valkyrie Shire Council	Hudson Family Trust	Part Payment of rates Unit 12, 7Rosepetal Road	H1	$200

Trust Bank Ledger (TB1)

Trust Bank (TB1)

Date

From/To

Particulars

Folio

Debit

Credit

Balance

01.09.XX

02.09.XX

04.09.XX

05.09.XX

08.09.XX

09.09.XX

Gibson

Dalton

Clarke

Gibson

Watson

Mitchell

Hill

V.S.C

Russell

D & L Watson

Hudson Family Trust

Bronson

D & L Watson

M Saunders

Hudson Family Trust

J & L Russell

TCR1

TCP1

TCR1

TCP1

TCR1

$30,000.00

$800.00

$500.00

$50,000.00

$1,000.00

$2,000.00

$28,500.00

$1,500.00

$200.00

$30,000.00DR

$30,800.00DR

$31,300.00DR

$2,800.00DR

$1,300.00DR

$51,300.00DR

$52,300.00DR

$52,100.00DR

$54,100.00DR

Bank statement

Westpac Valkyerie ATA Real Estate Bank statement as at 15 September 20XX Account no. ________________
Date	Particulars	Debit	Credit	Balance
01.09.XX	Deposit (Gibson)		$30,000.00	$30,000.00 CR
01.09.XX	Deposit		$800.00	$30,800.00 CR
02.09.XX	Deposit		$500.00	$31,300.00 CR
05.08.XX	Deposit		$51,000.00	$82,300.00 CR
09.09.XX	Deposit		$2,000.000	$84,300.00 CR
09.09.XX	Chq No 0001	$28,500.00		$55,800.00 CR
09.09.XX	Chq No 0002	$1,500.00		$54,300.00 CR

Hint: in the Bank reconciliation the balance of the bank statement must be the same as the balance of the trust account ledger. All outstanding payments and/or deposits are recorded in the reconciliation so that the balances match.

BANK RECONCILIATION STATEMENT- Please complete

ATA Real Estate Trust Account Bank reconciliation statement as at 15 September 20XX
Balance as per bank statement	$54,300
Add outstanding deposits	$
Subtotal	$
Less unpresented cheques
	Date	Cheque no	Amount
			$	$
Adjusted bank balance	$
Balance as per Trust Bank Ledger	$54,100

PART E - Completing a bank reconciliation (2)

Instructions

You are required to prepare Bank Reconciliation Statement for Best Realty as at the end of the month.

To refresh your memory on bank reconciliations, refer to Part [6.6] in your Cluster 7 Learner Notes.

Review the following records below:

Trust Bank Ledger
Bank Statement

The Trust Bank Ledger contains information about all the money going into and out of the Best Realty Trust Account for the month of September 20XX (and how much money should be in the trust bank account).

The Bank Statement for the Best Realty Trust Account shows how much money is actuallyin the trust bank account.

Complete the Bank Reconciliation Statement.

Trust Bank Ledger (TB1)

Trust Bank (TB1)

Date

From/To

Particulars

Folio

Debit

Credit

Balance

01.09.XX

02.09.XX

04.09.XX

05.09.XX

08.09.XX

09.09.XX

11.09.XX

12.09.XX

15.09.XX

18.09.XX

23.09.XX

25.09.XX

30.09.XX

Dalton

Gibson

Clarke

Gibson

Watson

Mitchell

Hill

V.S.C

Russell

Clarke

Burdis

J&B Guici

Bond

Watson

ATA R/Estate

Trees R Us

Hudson

Bronson

Saunders

Guici

Best R/E

Hudson Family Trust

D & L Watson

Bronson

D & L Watson (Chq 0001)

D & L Watson (Chq 0002)

D & L Watson

M Saunders

Hudson Family Trust (Chq 0003)

J & L Russell

Bronson

Bond Ledger

J&B Guici

Rental Bond Payment (Chq 0004)

Watson (Chq 0005)

Watson (Chq 0006)

J & B Guici (Chq 0007)

Hudson (Chq 0008)

Bronson (Chq 0009)

Saunders (Chq 0010)

Guici (Chq 011)

Commission Clearing Account (Chq 0012)

TCR1

TCP1

TCR1

TCP1

TCR1

TCP1

$800.00

$30,000.00

$500.00

$50,000.00

$1,000.00

$2,000.00

$1,400.00

$2,400.00

$1,200.00

$28,500.00

$1,500.00

$200.00

$2,400.00

$37,040.00

$12,960.00

$1,200.00

$532.00

$1,738.50

$915.00

$1,098.00

$416.50

$800.00 DR

$30,800.00 DR

$31,300.00 DR

$2,800.00 DR

$1,300.00 DR

$51,300.00 DR

$52,300.00 DR

$52,100.00 DR

$54,100.00 DR

$55,500.00 DR

$57,900.00 DR

$59,100.00 DR

$60,300.00 DR

$57,900.00 DR

$20,860.00 DR

$7,900.00 DR

$6,700.00 DR

$6,168.00 DR

$4,429.50 DR

$3,514.50 DR

$2416.50 DR

$2,000.00 DR

Bank statement

Westpac Valkerie BEST Real Estate Bank statement as at 30 September 20XX Account no. ________________
Date	Particulars	Debit	Credit	Balance
01.09.XX	Deposit (Dalton)		$800.00	$800.00 CR
01.09.XX	Deposit		$30,000.00	$30,800.00 CR
02.09.XX	Deposit		$500.00	$31,300.00 CR
05.08.XX	Deposit		$51,000.00	$82,300.00 CR
09.09.XX	Deposit		$2,000.000	$84,300.00 CR
09.09.XX	Chq No 0001	$28,500.00		$55,800.00 CR
09.09.XX	Chq No 0002	$1,500.00		$54,300.00 CR
10.09.XX	Chq No 0003	$200.00		$54,100.00 CR
11.09.XX	Deposit		$1,400.00	$55,500.00 CR
11.09.XX	Deposit (Burdis)		$2,400.00	$57,900.00 CR
12.09.XX	Deposit (Burdis)		$1,200.00	$59,100.00 CR
17.09.XX	Deposit (Guici)		$1,200.00
19.09.XX	Chq No 0004	$2,400.00
24.09.XX	Chq No 0005	$37,040.00
25.09.XX	Chq No 0006	$12,960.00
28.09.XX	Chq No 0007	$1,200.00		$6,700.00 CR

BANK RECONCILIATION STATEMENT- Please complete

Best Realty Trust Account Bank reconciliation statement as at 30 September 20XX
Balance as per bank statement	$6,700
Add outstanding deposits	$
Subtotal	$
Less unpresented cheques
	Date	Cheque no	Amount
	30/9/XX		$
	30/9/XX		$
	30/9/XX		$
	30/9/XX		$
	30/9/XX		$	$
Adjusted bank balance	$
Balance as per Trust Bank Ledger	$2,000

PART F - Completing a bank reconciliation (3)

Instructions

You are required to prepare Bank Reconciliation Statement for Smart Realty as at the end of the month.

To refresh your memory on bank reconciliations, refer to Part [6.6] in your Cluster 7 Learner Notes.

Review the following records below:

Trust Bank Ledger
Bank Statement

The Trust Bank Ledger contains information about all the money going into and out of the Smart Realty Trust Account for the month of January 20XX (and how much money should be in the trust bank account).

The Bank Statement for the Smart Realty Trust Account shows how much money is actuallyin the trust bank account.

Complete the Bank Reconciliation Statement.

Bank statement

NAB Rockdale Smart Realty Bank statement as at 31 January 20XX Account no. ________________
Date	Particulars	Debit	Credit	Balance
02.01.XX	Deposit		$800.00	$800.00 CR
02.01.XX	Deposit		$60,000.00	$60,800.00 CR
05.01.XX	Deposit		$700.00	$61,500.00 CR
08.01.XX	Chq No 0005	$350.00		$61,150.00 CR
14.01.XX	Deposit		$1,400.00	$62,550.00 CR
21.01.XX	Deposit		$2,400.00	$64,950.00 CR
22.01.XX	Deposit		$72,000.00	$136,950.00 CR
24.01.XX	Chq No 0006	$42,000.00		$94,950.00 CR
25.01.XX	Chq No 0007	$18,000.00		$76,950.00 CR
28.01.XX	Chq No 0008	$2,400.00		$74,550.00 CR
31.01.XX	Deposit		$2,750.00	$77,300.00 CR

Trust Bank Ledger (TB1)

Trust Bank (TB1)

Date

From/To

Particulars

Folio

Debit

Credit

Balance

02.01.XX

05.01.XX

08.01.XX

14.01.XX

21.01.XX

22.01.XX

24.01.XX

25.01.XX

28.01.XX

30.01.XX

31.01.XX

Jones

Mitchell

Brown

RCC

Brown

Taylor

Lee

Wills

Smart Realty

RTA

J&J Hill

Yen

Hinze

J&J Hill

D&P Wills

Z&C Yen

Part payment of rates - Hill (0005)

Z&C Yen

Taylor Bond 23 Low St

N&J Shaw

Balance of deposit (0006)

Commission Sale - Wills (0007)

Bond - Taylor (0008)

Landlord payment (0009)

Landlord payment (0010)

Advertising

TCR1

TCP1

TCR1

TCP1

TCR1

$800.00

$60,000.00

$700.00

$1,400.00

$2,400.00

$72,000.00

$2,750.00

$350.00

$42,000

$18,000

$2,400

$450.00

$2,100.00

$800.00 DR

$60,800.00 DR

$61,500.00 DR

$61,150.00 DR

$62,550.00 DR

$64,950.00 DR

$136,950.00 DR

$94,950.00 DR

$76,950.00 DR

$74,550.00 DR

$74,100.00 DR

$72,000.00 DR

$74,750.00 DR

BANK RECONCILIATION STATEMENT- Please complete

Smart Realty Trust Account Bank reconciliation statement as at 31 January 20XX
Balance as per bank statement	$77,300
Add outstanding deposits	$
Subtotal	$
Less unpresented cheques
	Date	Cheque no	Amount
			$
			$	$
Adjusted bank balance	$
Balance as per Trust Bank Ledger	$74,750

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Hudson Family Trust (H1)

From/To

Particulars

Credit

Balance

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